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The invitation-only salon bills itself as the landmark gathering for the fine watch sector.
Economically booming Asia accounts for a growing share of revenues for the watch sector.
Much of that effort has gone toward organizing — on behalf of the watch sector — exhibitions in museums worldwide.
The other two luxury groups that dominate the watch sector — Richemont and LVMH Moët Hennessy Louis Vuitton — already have a strong presence in jewelry.
They warn that the country's watch sector risks undermining itself by wiping out smaller Swiss players that buy components from China and elsewhere to remain competitive.
But updating the 50 percent rule would require the Swiss government to approve a new decree specifically for the watch sector.
Similar(48)
In another closely watched sector, housing sales slipped in October.
Though he was there to discuss his partnering with the luxury Italian watch company Sector, the subtext was more US Weekly or Oprah.
Whether such proximity is desirable or not, competition in the watch retail sector is heating up, as more companies open their own stores rather than relying on multibrand retailers to distribute their timepieces.
Over the last few years in order to promote stimulus in the depressed luxury watch retail sector watch brands have 1) lowered prices, 2) raised prices, 3) purchased back unsold product, 4) destroyed unsold inventory, 5) affirmed putting efforts into "fighting" the gray market, 6) promised to "close" contract-violating retail locations, and 7) offered some retailers exclusive products to sell.
In my last column ("Watch your sectors," July 26), I recommended the oil sector.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com